Tips for Negotiating a Complex Asset Division in a High Net Worth Texas Divorce

 Posted on October 06, 2022 in High Asset Divorce

It is rare that a divorce does not have some level of complexity involved. These complications become even more compounded if a couple has substantial assets that need to be divided. This is usually because the more assets and property there are, the more there is to fight over, especially if the divorce is an acrimonious one.

Many high net worth divorces involve real estate, stocks, trusts, business interests, jewelry, art, antiques, and more. In order to ensure that there is a fair and equal division of your marital estate, it is important to have a qualified and experienced high-asset divorce attorney representing you. The following tips can also help to ensure that the process goes as smoothly as circumstances allow.

Keep It Civil

The end of a marriage is often filled with stress and anger. It can be difficult to communicate with your soon-to-be-ex-spouse about financial issues, but it is important to make an effort to keep it as civil as possible. This is a time to try to put that anger aside and not only share your wishes with your spouse but also listen to what they are saying and try to understand where they are coming from. This attitude makes asset negotiation much easier.

Make Sure to Understand Which Assets Are Part of the Marital Estate

Although Texas is a community property state – meaning the marital estate will be divided in half – there are some assets and property that may not be included. Generally, assets that were acquired before the marriage will not be considered marital assets. The same may apply to any inheritance received by either spouse.

Make Sure to Understand What It Is You Are Actually Getting

There are some assets that have a specific value at a specific time. For example, the value of stocks often fluctuates day to day, while real estate property values may fluctuate month to month. What these items are worth today may not be even close to what they will be worth in the future.

Call a Travis County Complex Asset Division Attorney

Working with a high-asset divorce lawyer and financial professionals is important to ensure that the settlement you receive will be financially beneficial to your future. If you and your spouse have decided to divorce and you are a high-net-worth couple, you want to make sure to retain the services of an Austin, TX high asset divorce lawyer who has extensive experience in handling these types of complex asset division cases. Call Powers Kerr & Rashidi, PLLC to schedule a confidential consultation today.

Source:

https://statutes.capitol.texas.gov/Docs/FA/htm/FA.7.htm